A view of Alibaba’s booth during an expo in Guangzhou, Guangdong province. [Photo/Xinhua] Chinese tech giant Alibaba Group Holding Ltd reported on Thursday night that its revenue stood at 280.15 billion yuan ($38.4 billion) during the October-December period, an increase of 8 percent year-on-year, while its net income reached 46.43 billion yuan, surging 333 percent…
A humanoid robot on display at a conference focused on innovation and development held in Nanjing, Jiangsu province, on Feb 14, 2025. [Photo/Xinhua] BEIJING – Foreign investors are increasingly turning their attention to China’s A-share market, with a particular focus on the burgeoning opportunities in AI and robotics. Nearly 100 foreign institutions have been actively…
The People’s Bank of China. [Photo/IC] BEIJING – The People’s Bank of China (PBOC) will promote the use of renminbi (RMB) in cross-border payments, pricing, investment and financing, with an aim to facilitate international trade, investment and financing, according to a statement published Thursday. The central bank said it would develop the offshore RMB market,…
China’s cloud computing industry is expected to usher in new development opportunities as the meteoric rise of Chinese artificial intelligence startup DeepSeek has challenged the belief that massive computing resources are essential for AI breakthroughs, experts said. They added that with the maturity and application of AI technology, cloud computing services will be more user-friendly…
Consumers inspect mobile devices in a shopping mall in Ji’an city, Jiangxi province, Feb 7, 2025. [Photo/IC] BEIJING – Chinese consumers have benefited from the country’s pro-consumption policies, which cover goods such as mobile phones, home appliances and automobiles, said the Ministry of Commerce on Thursday. As of Wednesday, 169,000 vehicles were scrapped and recycled…
A foreigner uses an Alipay code on his mobile phone to buy coffee in Shanghai in April 2024. [CHINA DAILY] As China continues to refine its digital payment service systems, foreign visitors are experiencing unprecedented ease in making cashless transactions across the country. From seamless QR code transactions to cross-border digital wallet integration, the country’s…
The Symposium on AI for Science takes place in Beijing on Feb 19. [Photo/wicinternet.org] The Symposium on AI for Science (AI4S) in Beijing on Feb 19 brought together AI experts, government officials, researchers, and industry leaders. Organized by the World Internet Conference Specialized Committee on AI in collaboration with Alibaba Group, the event explored AI’s…
A truck loads containers at Tangshan Port, North China’s Hebei province. [Photo/Xinhua] Once the United States imposes its proposed “reciprocal tariffs”, it will inevitably seriously undermine the multilateral trading system and affect the global supply chain, the Ministry of Commerce said on Thursday. The ministry’s comments follow US President Donald Trump’s signing of a memorandum…
People order coffee at a Starbucks reserve roastery in Shanghai on Jan 14. [CHINA DAILY] Luckin Coffee, China’s largest coffee chain that became highly popular after it priced a cup at just 9.9 yuan ($1.36), has announced rate hikes across its product lineup, leaving many office workers feeling the pinch. In the wake of Luckin’s…
A view of the Huangpu River in Shanghai. [Photo/VCG] China encourages foreign businesses to expand investment in sectors including advanced manufacturing, modern services, high-tech industries and energy conservation, further advancing its economic openness and innovation-driven growth, government officials said on Thursday. Speaking at a news conference in Beijing, they said that China will soon introduce…